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Author Topic: Tesla Touts ‘True Out of Pocket’ Financing for Model S Back to Topics
BIGOILEATURCRUD
Champion Author
North Carolina

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Message Posted: Apr 3, 2013 5:12:20 AM

Tesla Motors Inc. (TSLA) (TSLA) is adding lease- style financing for its Model S intended to broaden sales of the sedan as the maker of electric cars led by billionaire Elon Musk seeks to build on the company’s first quarterly profit.

U.S. Bancorp and Wells Fargo & Co. (WFC), partners for the program, will provide qualified customers with 10 percent of the purchase price and be reimbursed through a $7,500 U.S. tax credit and state incentives, Tesla said yesterday in a statement. The company said on its website monthly payments under the offer are as low as $500, when savings on fuel and other costs are included. The amount excluding those items is at least twice as much, the website shows.

“Just factoring in stuff that’s true out of pocket, you can buy the 60-kilowatt Model S for $400
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REPLIES (newest first) Post a Reply
doctorindyj
Champion Author Santa Fe

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Message Posted: Apr 3, 2013 1:26:32 PM

Out of whose pocket? Al Gore's? I'm sorry but my pockets are not that deep. As the old saying goes: If the devil danced in empty pockets he'd have a ball in mine.
SVmike
Champion Author California

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Message Posted: Apr 3, 2013 1:23:41 PM

EvergreenON says: Regardless of the financial benefits to be useful these cars must be able to perform at least 400 miles without recharging

Why? That is a ridiculous requirement in order to "useful." If you drove 400 miles everyday, then yes. But most people only drive 25 - 50 miles per day. For these people a car that can go 50 - 100 miles is quite useful. No, it won't go on a 1000 mile road trip.

50 miles per day is 18,000 miles per year. Well above the average. Average means some people are above, some below. But MOST are below the average since there are a few drivers that are way above the average.
Van_Halen
Champion Author Atlanta

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Message Posted: Apr 3, 2013 11:57:37 AM

.
Go TESLA!
ss70
Champion Author Detroit

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Message Posted: Apr 3, 2013 11:16:46 AM

That shows the confidence in the product
Bttlecat
Champion Author Oklahoma City

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Message Posted: Apr 3, 2013 10:52:37 AM

let the greenies write their own checks our of THEIR pockets to provide all future subsidies. Then if they succeed they can reap the profits.
Skunk63
Champion Author Phoenix

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Message Posted: Apr 3, 2013 9:49:17 AM

Stop making me pay for cars that are parked in others' driveways. This tax treatment is crap.
gcalleja
Champion Author Miami

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Message Posted: Apr 3, 2013 8:53:25 AM

Great!
BigKart
Champion Author Indianapolis

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Message Posted: Apr 3, 2013 8:43:29 AM

Once again, requires someone else to subsidize electric cars to make their cost marginally viable.
humblepie
Champion Author Toledo

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Message Posted: Apr 3, 2013 8:17:11 AM

just another huge rip off, even worse then a lease
bar1035
Champion Author Charlotte

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Message Posted: Apr 3, 2013 8:09:57 AM

Leasing is stealing compared to driving it till the wheels fall off.
Buck_on_Bass
Champion Author Tennessee

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Message Posted: Apr 3, 2013 8:07:57 AM

I wonder how the creative accounting is done.
vwilsonskis
Champion Author New Jersey

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Message Posted: Apr 3, 2013 7:14:42 AM

would love one but I do not have the extra income
335d1
Champion Author Virginia

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Message Posted: Apr 3, 2013 7:08:03 AM

Coming down a little in price, I'll wait and see what happens in a few years.
Rockyguitar
Champion Author Tampa

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Message Posted: Apr 3, 2013 7:02:01 AM

STOP using tax dollars to underright private industry!!!
Yooperheart
Champion Author Michigan

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Message Posted: Apr 3, 2013 6:59:03 AM

Out of my pocket range.
Joeski1
Champion Author New Jersey

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Message Posted: Apr 3, 2013 6:55:35 AM

saw one the other day.....

they cruise....

and we buy gas....
EvergreenON
Champion Author Ontario

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Message Posted: Apr 3, 2013 6:52:48 AM

Regardless of the financial benefits to be useful these cars must be able to perform at least 400 miles without recharging
leeac
Champion Author Ohio

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Message Posted: Apr 3, 2013 6:47:32 AM

EVs and hybrids are the personal transportation of the future.
el_fr
Champion Author Massachusetts

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Message Posted: Apr 3, 2013 6:45:40 AM

Still too expensive
sabre75
Champion Author Florida

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Message Posted: Apr 3, 2013 6:44:19 AM

Good looking just sorry drive train.
daequitz
Champion Author New Jersey

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Message Posted: Apr 3, 2013 6:31:10 AM

Good looking car. Put a real engine in it and you'd sell them.
CarefulDriver
Champion Author Ann Arbor

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Message Posted: Apr 3, 2013 6:30:09 AM

Interesting.
bills299
Champion Author Atlanta

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Message Posted: Apr 3, 2013 6:29:03 AM

Not really sure about this!
mandoid
Champion Author Alabama

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Message Posted: Apr 3, 2013 6:19:10 AM

waste of taxpayer money
grandpadon28110
Champion Author Charlotte

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Message Posted: Apr 3, 2013 6:18:56 AM

Does not sound good to me.
dandvicb
Champion Author Bridgeport

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Message Posted: Apr 3, 2013 6:09:12 AM

wont be bought by me!
sks1586
Champion Author New Jersey

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Message Posted: Apr 3, 2013 6:05:51 AM

Good job
yardslave
Champion Author Oklahoma City

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Message Posted: Apr 3, 2013 5:55:41 AM

No place to buy one here...
gypsymom3
Champion Author New Jersey

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Message Posted: Apr 3, 2013 5:55:04 AM

interesting
nicven
Champion Author Virginia Beach

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Message Posted: Apr 3, 2013 5:33:13 AM

Great
USMCturtlehead
Champion Author Lexington

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Message Posted: Apr 3, 2013 5:21:43 AM

Buy Tesla get a tax credit.
BIGOILEATURCRUD
Champion Author North Carolina

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Message Posted: Apr 3, 2013 5:17:33 AM

“It’s not a lease per se, it’s financing over five years,” said Musk. “I am personally standing behind that residual value, even if Tesla is unable to. That’s what I mean by putting my money where my mouth is,” he said, referring to a comment he made March 25 about plans for yesterday’s announcement.

Ah-ha

[Edited by: BIGOILEATURCRUD at 4/3/2013 5:18:04 AM EST]
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